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Banking Disputes Quarterly

Q1 2016

Litigation Update

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11 MAY 2016

Welcome to the Q1 2016 edition of our Banking Disputes Quarterly, designed to keep you up to date with the latest news and legal developments and to inform you about future developments that may affect your practice.

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In this issue

A number of leading banks, including Lloyds Banking
Group, Barclays, HSBC and The Royal Bank of Scotland,
have pledged to tackle gender imbalance in the UK
financial services sector by signing up to a new voluntary
charter.

Coming into force on 7 March 2016, the Senior Managers
Regime (SMR) swept aside the 'Approved Persons
Regime' by creating a responsibility and 'accountability
framework' within banks building societies and credit
unions (Institutions) that was better suited to their
committee-based decision making and matrix structures.

Customers of banks who consider they have been mis-sold
an interest rate hedging product (IRH P/Swap) have
explored various avenues for remedies. A recent judgment
discourages them from pursuing public law claims.

The Financial List has been operating since October 2015
and is now becoming well-established. In Property Alliance
Group Limited v Royal Bank of Scotland Plc [2016] EWHC
207 (Ch), the Court considered whether to order the
transfer of existing proceedings into the Financial List.

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DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world.

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